GE 2015 Annual Report Download - page 194

FINANCIAL STATEMENTS INVESTMENT CONTRACTS & INSURANCE
166 GE 2015 FORM 10-K
Liquidity is affected by debt maturities and our ability to repay or refinance such debt. Long-term debt maturities over the next five
years follow.
(In millions) 2016 2017 2018 2019 2020
GE(a) $ 17,777 $ 16,723 $ 7,953 $ 3,749 $ 7,306
GE Capital 24,996 (b) 8,520 7,681 5,714 11,419
(a) Included borrowings assumed by GE as part of the merger, for which GE has an offsetting amount due from GE Capital, of $17,649 million,
$12,454 million, $7,898 million, $3,707 million and $6,548 million in 2016, 2017, 2018, 2019, and 2020, respectively.
(b) Fixed and floating rate notes of $458 million contain put options with exercise dates in 2016, and which have final maturity beyond 2019.
Committed credit lines totaling $45.6 billion had been extended to us by 48 banks at year-end 2015. $45.6 billion under these credit
lines can be on-lent to GE Capital. The GE lines include $24.5 billion of revolving credit agreements under which we can borrow funds
for periods exceeding one year. Additionally, $20.9 billion are 364-day lines that contain a term-out feature that allows us to extend the
borrowings for two years from the date on which such borrowings would otherwise be due.
NOTE 11. INVESTMENT CONTRACTS, INSURANCE LIABILITIES AND INSURANCE ANNUITY
BENEFITS
Investment contracts, insurance liabilities and insurance annuity benefits comprise mainly obligations to annuitants and policyholders in
our run-off insurance operations.
December 31 (In millions) 2015 2014
Life insurance benefits(a)
$
19,978 $ 20,688
Investment contracts 2,955 3,970
Other(b) 3,223 3,224
26,155 27,881
Eliminations (463) (449)
Total
$
25,692 $ 27,432
(a) Life insurance benefits are accounted for mainly by a net-level-premium method using estimated yields generally ranging from 3.0% to 8.5% in
both 2015 and 2014.
(b) Substantially all unpaid claims and claims adjustment expenses and unearned premiums.
When insurance affiliates cede insurance risk to third parties, such as reinsurers, they are not relieved of their primary obligation to
policyholders. When losses on ceded risks give rise to claims for recovery, we establish allowances for probable losses on such
UHFHLYDEOHVIURPUHLQVXUHUVDVUHTXLUHG5HLQVXUDQFHUHFRYHUDEOHVDUHLQFOXGHGLQWKHFDSWLRQ³2WKHUGE Capital receivables" on our
Statement of Financial Position, and amounted to $1,880 million and $1,742 million at December 31, 2015 and 2014 respectively.
:HUHFRJQL]HUHLQVXUDQFHUHFRYHULHVDVDUHGXFWLRQRIWKH6WDWHPHQWRI(DUQLQJVFDSWLRQ³,QYHVWPHQWFRQWUDFWVLQVXUDQFHORVVes and
LQVXUDQFHDQQXLW\EHQHILWV´5HLQVXUDQFHUHFRYHULHVZHUH295 million, $240 million and $250 million in 2015, 2014 and 2013,
respectively.
166 GE 2015 FORM 10-K